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3 Apr 2015
USD/JPY sidelined around 119.70
FXStreet (Edinburgh) - USD/JPY remains in the area around 119.70 vs. the Japanese yen on Friday, extending the consolidation pattern following the recent breach of 120.00.
USD/JPY focus on Payrolls
After the recent drop to the 119.00 area, the pair attempted a recovery beyond the key barrier at 120.00 in the first half of the week. The upside, however, lost impetus and is now looking to consolidate the retracement around the 119.70 band.
In the data front, Japanese Services PMI ticked lower to 48.4 during March from 48.5. In the US, Non-farm Payrolls are due next, with consensus expecting the economy to have added 244K jobs during the last month.
USD/JPY levels to watch
The pair is now losing 0.02% at 119.68 with the next support at 119.45 (low Apr.2) ahead of 119.42 (low Apr.1) and then 119.35 (Tenkan Sen). On the flip side, a breakout of 120.19 (Kijun Sen) would open the door to 120.37 (high Mar.31) and finally 121.00 (psychological level).
USD/JPY focus on Payrolls
After the recent drop to the 119.00 area, the pair attempted a recovery beyond the key barrier at 120.00 in the first half of the week. The upside, however, lost impetus and is now looking to consolidate the retracement around the 119.70 band.
In the data front, Japanese Services PMI ticked lower to 48.4 during March from 48.5. In the US, Non-farm Payrolls are due next, with consensus expecting the economy to have added 244K jobs during the last month.
USD/JPY levels to watch
The pair is now losing 0.02% at 119.68 with the next support at 119.45 (low Apr.2) ahead of 119.42 (low Apr.1) and then 119.35 (Tenkan Sen). On the flip side, a breakout of 120.19 (Kijun Sen) would open the door to 120.37 (high Mar.31) and finally 121.00 (psychological level).